Formation Metals Inc. (TSX:FCO) announced that it has redeemed the bond debt of US$43.6 million. The debt was made available through the Federal Stimulus Package Recovery Zone Facility Bonds to complete Phase I and Phase II construction of the Company's 100% owned Idaho Cobalt Project. The debt was redeemed using the Company's cash which had been restricted as collateral for the bonds.
Formation Metals Inc. (TSX:FCO) announced that it will defer underground development or any related construction on its Idaho Cobalt Project, as was anticipated in the Company's news release dated December 12, 2012. The Company will be focusing on the advancement of the business at the Sunshine Precious Metals Refinery to increase cash flow, and on a strategic review of its precious metals properties.
Sherritt International Corporation (TSX:S) announced their Q1 earnings, including net earnings of $23.1 million.
Lundin Mining Corporation (TSX:LUN, OMX:LUMI) announced their first quarter results and highlights, including the closure of the of the acquisition of the Kokkola cobalt refinery. As quoted in the press release:
BioteQ Environmental Technologies Inc. (TSX:BQE) provided updates on plant operations for the first quarter of 2013
Landore Resources Limited (AIM: LND) announced drilling updates from its Scorpion Zone Nickel-Copper-Cobalt-PGEs project on the Junior Lake Property.
OM Group (NYSE:OMG) announced that they have divested their cobalt business to a joint venture between Freeport-McMoRan Copper & Gold Inc., Lundin Mining Corporation and La Generale des Carrieres et des Mines (Gecamines) for $325 million.
Liberty Mines Inc. (TSX:LBE) announced financial results for 2012.
Starfield Resources Inc. (TSX:SRU) announced that they have filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act.
Global Cobalt Corp CEO, Erin Chutter, spoke with the Investing News Network at PDAC in Toronto on how the Company is undergoing a transformation from Puget Ventures (TSXV:PVS) to Global Cobalt.
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